52.7 /
0.97%
5422.94
NAV on 2021/02/25
| NAV on 2021/02/24 |
5370.24 |
| 52 week high on 2021/02/25 |
5422.94 |
| 52 week low on 2020/03/24 |
3814.29 |
| Total Expense Ratio on 2020/09/30 |
2.63 |
| Total Expense Ratio (performance fee) on 2020/09/30 |
0 |
| Liquid Assets |
2.02 |
1.75% |
| Managed |
85.07 |
73.65% |
| Spec Equity |
16.82 |
14.56% |
| Offshore |
11.60 |
10.04% |
|
U-36FLEX |
17.40 |
15.07% |
|
U-CORBALP |
17.30 |
14.98% |
|
U-LAURFLE |
17.22 |
14.91% |
|
U-PSGOPP |
17.07 |
14.78% |
|
U-MINSWWF |
16.82 |
14.56% |
Management company:
Boutique Collective Investments (RF) (Pty) Ltd. |
Formation date:
2001/07/02 |
ISIN code:
ZAE000031456 |
Short name:
U-APPMACR |
Risk:
Unknown |
Sector:
South African--Multi Asset--Flexible |
Benchmark:
SA Multi Asset Flexible Category Average |
Destiny Fund Managers
Ross Breedt
PSG Destiny Multi Asset FoF comment - Mar 12
2012/05/16 00:00:00
The past month's market was indeed very interesting with the overall market struggling to get any direction driven with renewed worries about the Euroean problem. Like we said in many commentaries in will take a long time to disappear.
That is why we rather focus our attention to fund managers that have shown the ability to consistently add value to the fund. We like fund managers that rather focus their attention to stock selection as it is proven that over time macro economic events cannot keep good business down. We further continue to be critical on the fund managers we entrust our funds to and although we have a passive approach we do need to change fund managers from time to time.
We have decided to remove Investec Opportunity Fund and replace it with the Visio Actinio Fund managed by Patrice Moyal (www.visioncapital.co.za). The fund has been in existence for over 5 years and has proven to consistently deliver superior returns. It is not all about returns in selecting fund managers and our final decision entailed doing a due diligence visit on the company. Vision is a stable boutique manager and we are very comfortable with their investment process and the team of people running the business with over R8 billion under management.
This change will be implemented during April 2012.
The Destiny BCI Multi Asset Fund of Funds is a domestic flexible fund of funds with the objective to maximise long term capital growth, with the generation of income as a secondary objective. Investments to be included in the portfolio will consist of assets in liquid form as well as participatory interests and other forms of participation of collective investment schemes, or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective. The underlying portfolios may invest in, amongst others, equity securities, property securities, non-equity securities, money market instruments, preference shares, listed and unlisted financial instruments, bonds and other interest bearing instruments and securities. To the extent that the assets in the portfolio are exposed to exchange rate risk, the manager may enter into financial transactions for the exclusive purpose of hedging such exchange rate risk subject to the conditions and limits as stipulated by the Act. The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out.
